F.P. Report
ISLAMABAD: The Federal Board of Revenue (FBR) officials has stated that the IMF is satisfied with the 1.5 per cent improvement in the tax-to GDP ratio.
As a result, no-mini-budget will be introduced and there will be no imposition of General Sales Tax (GST ) on petroleum products.
According to FBR sources, the annual tax target of Rs12,970 billion will be maintained. The tax-to GDP ratio has increased from 8.8 per cent to 10.3 per cent.
Starting next year, tax collection on agricultural income will commence.
Ongoing discussion with the IMF are expected to include potential changes to business-friendly schemes.
